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Philip Klein

The Obamas have investments in companies that ship jobs overseas

But Obama’s own portfolio shows a willingness to invest in American corporations that have shifted employment overseas.

In his most recent financial disclosure from 2011, Obama and his wife reported having between $200,000 and $450,000 in the Vanguard 500 Index Fund, which invests in the largest U.S. corporations. According to a filing with the Securities and Exchange Commission, as of Sept. 30, 2011, the fund’s biggest holding was 8,272,039 shares of Apple Inc., then valued at $3.2 billion. …

The mutual fund that the Obamas have invested in also held 94,582,281 million shares of General Electric, valued at $1.4 billion, as of the SEC filing. The multinational conglomorate has a long history of outsourcing – according to a new book cited by the New York Times, in 1989, “G.E. became the first U.S. company to outsource software work to India.” Obama also has close ties to GE’s CEO, Jeffrey Immelt, who was appointed as chairman of his outside panel of economic advisers last year.

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When we have to have this point-counterpoint stuff, you know Romney’s in trouble.

ddrintn on July 17, 2012 at 9:38 PM

Yeah. I mean, who cares? The country’s going down the s***hole and we’re talking about the evils of globalization and worldwide competition? Sorry, that debate should have been over years ago. How about talk about us, our country.

Obama can commit taxpayer money all over the world, but something’s wrong with investing in multinational companies that have overseas operations?

Obama and Dems are afraid that their supporters will actually have turn off American Idol, get some more edumucation to compete as employees, and, along the way, realize that the Dems have been screwing them all along.

Is Philip Klein an idiot? Or does he just not understand the difference between someone running a private equity firm with significant investment in individually picked and tracked assets vs. average investor putting their savings in very very diverse funds with virtually zero control?

He’s not an idiot, but he is a partisan hack who compares (and equates) Apples with Mushrooms.

When we have to have this point-counterpoint stuff, you know Romney’s in trouble. ddrintn on July 17, 2012 at 9:38 PM

Sure. We should have nominated some mythical candidate (that didn’t run) whose very nomination would ensure victory without the need to campaign.

Romney is even or slightly behind in polls that significantly oversample Democrats. Romney is in fact winning and he hasn’t even turned the Death Star on Obama. It is you who is in trouble. Your ego won’t survive a Romney win, which is why you are so invested in him losing.

vs. average investor putting their savings in very very diverse funds with virtually zero control?

lester on July 17, 2012 at 11:22 PM

You’re not serious are you? Or are you just that willing to go that far in order to forgive any and all of Obama’s hypocrisies and shortcomings? It’s sad but fascinating if it’s the latter. OBAMA 2012!/!

Regardless, Obama controls his money. That control involves researching potential funds and not investing in them if they profit from something he morally opposes.

…putting their savings in very very diverse funds with virtually zero control…

lester on July 17, 2012 at 11:22 PM

An investors has complete control over where his/her money is invested. There are many, many options besides diversified funds that invest in, ahem, uh, you know, companies that do things the investor does not approve of. This is one of the features of, uh, ahem, you know, economic freedom and, you know, uh, capitalism.